Ethiopian Bourse Lowers Listing Costs in Push to Deepen Capital Markets

Mintesinot Niggusie

The Ethiopian Securities Exchange (ESX) has revised its fee structure in a move aimed at attracting more companies to the capital market, lowering trading costs and improving liquidity across its trading platforms.

The exchange said the first amendment to its fees schedule came into effect on May 2, 2026, following approval from the Ethiopian Capital Market Authority.

Under the revised structure, the exchange introduced caps on listing fees based on a company’s market capitalisation, although the underlying fee rates remain unchanged. The exchange said the measure is intended to keep the cost of going public manageable, particularly for small and medium-sized enterprises seeking to raise capital through the market.

The exchange also reduced fees on block trades, introducing lower transaction charges for large-volume deals in an effort to improve trading activity and market liquidity.

In another change, ESX introduced admission fees for companies entering its over-the-counter and unlisted market segment. The exchange said the adjustment was designed to align costs across its Main, Growth and OTC market platforms while encouraging companies to use the OTC market as a pathway towards a full public listing.

The bourse said the amendments were part of efforts to strengthen Ethiopia’s nascent capital market ecosystem and encourage broader participation from issuers, investors and financial institutions.

“Capital markets do not grow by accident. They grow when the ecosystem makes it genuinely worthwhile for companies to list, for investors to participate and for institutions to lead by example,” the exchange said in a statement.